When is it time to take a home off the market? That’s a question frustrated brokers and sellers grapple with all the time, especially in today’s market, where prime cities like London, Tokyo and Miami are dealing with a surplus of inventory and softening prices. Read More

BY THE NUMBERS

TRENDING TODAY

LISTING OF THE DAY

Overlooking Puget Sound from the vantage of Seattle’s luxurious Four Seasons Hotel, this downtown condominium is truly unique. Designed in a contemporary style, the condo has luxurious marble countertops and shimmering chandeliers inside, as well as a view of Elliott Bay, Mount Rainier and the Olympic Mountains. Read More

NEIGHBORHOOD NOTES

There are few urban neighborhoods more picturesque than Toronto’s Rosedale. Along with historic mansions, meandering streets shaded by magnificent trees, good schools and huge parks, the area has everything the city has to offer right on its doorstep. Read More

NEWS BITES

Tina Brown Lists Another Of Her Upper East Side Co-ops

Publishing icon Tina Brown and Sir Harold Evans are looking to sell their two-bedroom, three-bathroom co-op at 2 Beekman Place, listing the apartment for $2.8 million, after Sir Evans first bought the property last year for $2.3 million. The pair is also selling a nearby maisonette apartment on 57th Street, which has been on the market for over a year at an asking price of $7.8 million.Luxury Listings NYC

New “Airbnb Lux” Will Focus On High-End Vacation Rentals

Airbnb is reportedly planning a new service geared toward a higher-end audience, known unofficially as “Airbnb Lux.” Offerings on the site will include penthouses, mansions, and villas, and the announcement comes on the heels of the site’s acquisition of Canadian company Luxury Retreats. The company will reportedly be testing the service in a few markets later this year, then rolling it out to a wider audience.Bloomberg

Experts Expect Hong Kong Prices to Fall as Much as 30% in the Next Year

Amid a slowing market and concern over a likely rate hike from the Federal Reserve, market watchers are predicting a notable drop in Hong Kong’s market, though the level of severity is up for debate. An analyst at Bloom International cited rising default cases as a reason to expect as much as a 30% drop in the next year, while Deutsche Bank forecasts a 50% decline over the next decade, and Centaline Property expects prices to fall by 3% to 5% in the third quarter. South China Morning Post

Dubai’s Market May Have Already Hit Bottom, Be Ready For A Rebound

Experts think Dubai’s three-year housing slump may be nearing its end, with investors now showing increasing interest in the market. Data from REIDIN indicates that the pace of declines has slowed significantly for both home prices and rents, while a new report from Propertyfinder notes increased interest from international investors looking for better-priced options than are available in more expensive international markets such as Hong Kong and New York. Gulf News

U.K. Lending and Mortgage Approvals Took an Unexpected Upswing in May

As the Bank of England considers when to raise interest rates, new data this week indicated that unsecured consumer borrowing rose 10.2% year-over-year in May, compared to 9.7% in April, while the number of approved mortgages beat predictions and rose to 65,202 in May, and net consumer lending rose to £1.732 billion. Business Times

Hong Kong Prices Soar to New Heights

Declared the world’s least affordable city, Hong Kong real estate prices are setting new records with each passing month. The average sales price in the financial center hit HK$15,745 per square foot (US$2,017) in May, according to new data from Midland Realty. The latest price growth comes as the city deploys a number of market cooling measures, including raising the stamp duty 15% and credit tightening. South China Morning Post

DISCLAIMER: The currency conversion is provided for illustration purposes only. It is meant only as an approximation based on the latest information available and should not be relied upon for any other purposes. We are not responsible for any loss that you may incur as a result of relying on these currency conversions. All property prices are as stated by the listing agent.